Excess Balance definition

Excess Balance means the amount by which the balance in the cash collateral account exceeds the undrawn and unexpired amount of the Letters of Credit. Except as expressly provided above in this Section, presentment, demand, protest and all other notices of any kind are hereby expressly waived by the Borrower.

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Excess Balance as defined in Section 8.

Excess Balance means (A) after the fifth Business Day preceding the Commitment Termination Date, the amount by which the balance of the Cash Collateral Account exceeds the L/C Amount, and (B) prior to the fifth Business Day preceding the Commitment Termination Date, the balance of the Cash Collateral Account. The Agent shall have full control of the Cash Collateral Account, and, except as set forth above, the Borrower shall have no right to withdraw the funds maintained in the Cash Collateral Account.

Examples of Excess Balance in a sentence

• BREAKDOWN OF TUITION COST Total Tuition DLIR/ETF costs: (50% ETF assistance) Employer's cost: (50% ETF assistance pay directly to vendor) Excess Balance: (paid by employer directly to vendor) Total Employer Course 1 $ 200.00 $ 100 $100 = $100.00 Course 2 $ 1,000.00 $ 400 $400 $200 = $600.00 Total $ 1,200.00 $ 500 $500 $200 = $700.00 • Section II and IV.

• The Settlement Bank shall then transfer the Excess Balance to another designated account of the Account Holder.

• Upon the receipt of a valid request to release Excess Funds, eSett will send an MT101 message specified by SWIFT through the SWIFT network or an email to the Settlement Bank to instruct the Settlement Bank to make the Excess Balance available to the Account Holder.

• During the continuance of an Event of Default, the Administrative Agent may, or upon the request of the Required Lenders shall, apply any Excess Balance (as defined below) to repay the Obligations.

• Upon request of the Company, the Administrative Agent shall permit the Borrowers to withdraw from the Cash Collateral Account, so long as no Default or Event of Default then exists, the lesser of (a) the Excess Balance (as defined below), or (b) the balance of the Cash Collateral Account.

More Definitions of Excess Balance

Excess Balance means the amount by which the balance of the Facility LC Collateral Account exceeds the amount of L/C Obligations. In addition, after all of the Obligations have been paid in full (other than contingent indemnification obligations) and the Aggregate Commitment has been terminated, any funds remaining in the Facility LC Collateral Account shall be returned by the Agent to the Borrower or paid to whomever may be legally entitled thereto at such time.

Excess Balance means the greater of: (i) Agency Max-Plan Account Balance minus the Qualified Participation Balance, or (ii) zero.

Excess Balance means the amount by which the balance of the Facility LC Collateral Account exceeds the amount of L/C Obligations. In addition, after all of the Obligations have been paid in full and the Aggregate Commitment has been terminated, any funds remaining in the Facility LC Collateral Account shall be returned by the Agent to the Borrower or paid to whomever may be legally entitled thereto at such time. Notwithstanding anything in this Agreement to the contrary, to the extent the Borrower has deposited cash in the Facility LC Collateral Account in accordance with the requirements of 2.20.1, the Borrower shall not be permitted to withdraw such amounts from the Facility LC Collateral Account until the Facility LC’s secured thereby have been cancelled and returned to the applicable LC Issuer on terms and conditions satisfactory to such LC Issuer.

Excess Balance. “Eligible Institution”

Excess Balance has the meaning set forth in Section 7.3.

Excess Balance means for any Partner, other than with respect to the Partner's Preferred Units that have a Liquidation Preference, the amount, if any, by which the Partner's positive Capital Account balance exceeds zero, and for any Partner with respect to the Partner's Preferred Units that have a Liquidation Preference, the amount, if any, by which its positive Capital Account balance exceeds the sum of the positive balance of the Liquidation Preference of its Preferred Units.

Excess Balance means (i) at any time following the Facility Termination Date or the occurrence of a Default or Event of Default (unless each such Default or Event of Default has been waived by the Bank in writing), the amount by which the balance of the Cash Collateral Account exceeds the aggregate amount secured by the sums held in the Cash Collateral Account, and (ii) at all other times, the amount by which the balance of the Cash Collateral Account exceeds the L/C Amount. The Bank shall have full ownership and control of the Cash Collateral Account, and, except as set forth above, the Borrower shall have no right to withdraw the funds maintained in the Cash Collateral Account.